Great American Insurance Group to enter Portugal

The Great American Insurance Group (GAIG) is preparing to step up its activity in Portugal.

The insurer specialises in speciality commercial property and casualty insurance for hundreds of industry such as Agriculture, Aviation, Construction, Energy, Financial Institutions, Healthcare, Hospitality, Manufacturing, Marine, Nonprofits, Professional Services, Public Entities, Retail, and Transportation.

It will enter the Portuguese market in the causality insurance sector through its Madrid Office according Otto Hoedemaker, Director of Business Development for Spain and Portugal in an interview with the magazine ‘Actualidad Seguradora’ published by INESE.

“Over the past few years the casualty insurance sector has changed quite a lot with the entry of new operators but continues to be, without a doubt, the market with the greatest potential in Spain.

This year we’re also launching casualty in Portugal following the same trend that we had seen previously in Spain,” he said.

Casualty insurance is a broad term for policies protecting individuals and businesses from financial loss due to legal liabilities from accidents, injuries, or damage to others’ property, covering things like auto, home liability, workers’ comp, and business general liability, essentially paying claims when found responsible for harm.

It’s often bundled with property insurance as “Property & Casualty (P&C)” and covers legal obligations to pay others, including defence costs.

Source: Actualidad Seguradora